Connecticut residents will soon be able to know how every last penny of their taxes are being spent while sitting at their home computers.

Gov. M. Jodi Rell has signed legislation that will lead to the creation of a searchable, online database showing all state expenditures. It is expected to be in place by July 1, 2011.

"This is a wonderful step forward for open and transparent state government," said Rell, who on Friday signed House Bill 5163, An Act Requiring the Establishment of a Searchable Database for State Expenditures.

Under this bill, taxpayers will be able to see all the details of state expenditures, including state contracts and grants. Every state agency will provide the legislature's Office of Fiscal Analysis (OFA) with financial details and OFA will post the information online.

"The bottom line for everyone is simple,'' Rell said. "The more information provided to the public, the better."